New cost structure built to offset AFD upgrade costs,
RESTON, Va. — Transaction Network Services (TNS) is introducing flexible pricing structures to help retailers offset the costs of outside EMV upgrades. As fuel retailers implement and complete projects to upgrade automated fuel dispenser (AFD) equipment at the forecourt to avoid the liability shift, the initial costs have proven to be a challenge for many. Yet it is critical to make these upgrades sooner rather than later to reduce fraud costs.
The longer retailers wait to upgrade, the more it will likely cost. Conexxus, a non-profit trade industry technology organization, found that installation costs tend to increase due to high demand leading up to an industry-wide change. On average, installation costs rise 14% six months before the deadline, 23% three months before the deadline and 33% at the deadline, and remain around 31% higher following the deadline.
Yet budgets have become especially tight this year due to the pandemic, leading many retailers to hesitate on starting their projects. TNS is responding by creating pricing strategies aimed at relieving near-term spend for early movers and offering retailers the benefit of a tailored combination of services.
“TNS understands that retailers are constrained by tightening budgets amid a lower demand for fuel and reduced foot traffic as a result of the pandemic, and our pricing strategies are intended to give operators who work with us a reduction in the pain associated with near-term spend given this current climate,” said Dan Lyman, TNS’ head of payments markets, North America. “We want to help them get the most value out of their upgrades by avoiding liability and fraud and implementing the fast, secure payments infrastructure that is extensible to create new revenue opportunities, enhance and personalize customer engagement, and improve the overall customer experience.”
TNS is a certified managed network service provider of both Gilbarco and Verifone and is a Level 1 Payment Card Industry Data Security Standard certified service provider. Retailers can use TNSLink to connect their payment terminals securely and cost-effectively to TNS’ global payments community to support multiple payment applications, improve uptime and increase productivity. TNSLink leverages TNS’ global presence and connectivity with more than 400 payments systems.
As a partner to the payments industry, TNS offers a portfolio of commerce products that include parking reservations, unattended payments, point-of-sale services, ATM connectivity and managed processing.
Reston, Va.-based TNS is one a global provider of infrastructure-as-a-service and a partner to thousands of financial organizations, telecommunication providers and retailers around the world. Since 1990, TNS has grown to provide services to customers in over 60 countries across the Americas, Europe and the Asia Pacific region.
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